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Agriculture Equipment Market in U.S. Grew by 2.8% in 2022, Favourable Climate and Increasing Demand For Crop Production Favouring Agriculture Equipment Sales in the U.S. - Arizton
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The U.S. has over 333.2 million food consumers and is the largest food market in North America . The country witnessed a massive increase in farm mechanization in terms of agricultural and industrial productivity.
The agriculture equipment market in the U.S. grew by 2.8% in 2022 from 2021. The increase in crop production and agricultural equipment sales was due to the favorable climate in 2022.
The U.S. government plans schemes and initiatives to facilitate credit and improve agriculture-related operations, which will contribute to the growth of the overall value chain of the market.
In recent years the use of electric vehicles gaining popularity. Electric vehicles have become more popular for various applications. Electric tractors or related farm machinery are widely used in the industry for various indoor and outdoor applications. The rising trend of automation and increasing environmental concerns will accelerate growth. Farmers in developed countries are looking for electric equipment to reduce the cost of fuel and replace them with traditional (diesel fuel) equipment. For instance, in 2021, US-based tractor manufacturer Solectrac announced the launch of its new 70 HP, 60 kWh electric tractor.
The United States government intends to improve the living conditions of those involved in the supply chain and provide 100%. They also announced a 40% reduction in total GHG emissions by 2030, with a goal of zero emissions by 2040. As a result, demand for energy-efficient agricultural equipment is expected to skyrocket in the United States in the coming years.
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Mexico Tractors Market - Mexico tractors market size was valued at 10,832 units in 2021, expected to grow exponentially with a CAGR of 3.79%, to reach 14,058 units by 2028. In 2021, the 50-100HP segment accounted for the largest share due to the increasing purchasing power of farmers due to better MSP and crop realization in Mexico .
UK Agriculture Equipment Market - The UK agricultural equipment market witnessed shipments of 28,970 units in 2022, which is expected to reach 35,796 units by 2028 growing at a CAGR of 3.59% during the forecast period. The UK accounted for around 9% of the agricultural equipment sold in Europe in 2022. This represents that the UK market provides a significant opportunity to OEMs for agriculture equipment sales. In 2022, the tractor segment accounted for the largest market share of the overall industry by equipment type.
U.S. Lawn and Garden Tractor Market - The U.S. lawn and garden tractor market is expected to reach USD 1.031 billion by 2027, growing at a CAGR of 4.13% from 2021-2027. The garden and lawn tractors are compact utility tractors with a heavy-duty design used for mowing garden yards, green cover areas, and others, which are highly influenced by the weather conditions. The demand for garden tractors arises in summer and spring, increasing time spent on lawn care activities. On the other hand, golf courses are becoming more popular across developed and developing countries. Golf courses require regular ground maintenance and upkeep of the field, which necessitates using lawn and garden tractors.
U.S. Tractors Market – U.S. tractors market is expected to grow at a CAGR of over 3% from 2022 to 2028 and is expected to reach 4,13,243 units by 2028 from 3,17,897 units in 2021. North America accounts for almost 11% of the global agriculture tractor market in volume. In 2021, the less than 50 HP segment accounted for the largest share due to its compact size and flexible operational capabilities. In North America , the United States represents a high level of farm mechanization. The U.S. is a global leader in agriculture exports.
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
8.1 OVERVIEW
8.2 VALUE CHAIN ANALYSIS
8.2.1 OVERVIEW
8.2.2 RAW MATERIAL & COMPONENT SUPPLIERS
8.2.3 MANUFACTURERS
8.2.4 DEALERS/DISTRIBUTORS
8.2.5 RETAILERS
8.2.6 END-USERS
8.3 DISTRIBUTION CHANNELS FOR FARM EQUIPMENT
8.3.1 FINANCING OPTIONS FOR ACQUIRING FARM MACHINERY
8.4 SWOT ANALYSIS OF U.S. AGRICULTURAL EQUIPMENT INDUSTRY
8.5 GOVERNMENT SUPPORT TO FARMERS
8.6 INCREASING ADOPTION OF PRECISION FARMING
8.7 AGRICULTURAL LAND-HOLDING STRUCTURES
8.8 IMPORT & EXPORT ANALYSIS
8.9 TECHNOLOGICAL ADVANCES
9.1 TECHNOLOGICAL ADVANCES IN AGRICULTURAL EQUIPMENT TECHNOLOGY
9.1.1 SWATH CONTROL AND VARIABLE RATE TECHNOLOGY
9.1.2 HIGH DEMAND FOR AUTONOMOUS EQUIPMENT
9.2 SHORTAGE OF AGRICULTURAL LABORERS
9.3 USE OF ENERGY-EFFICIENT AGRI EQUIPMENT
9.4 HIGH LOCAL PRODUCTION CAPACITIES IN THE U.S.
10.1 ASSISTANCE TO FARMERS THROUGH LOANS & SUBSIDIES
10.2 INCREASED AGRICULTURAL PRODUCTIVITY & EXPORTS
10.3 INCREASED FARM MECHANIZATION
11.1 LACK OF AWARENESS OF THE LATEST INNOVATIONS IN AGRICULTURAL EQUIPMENT
11.2 HIGH DEMAND FOR USED & RENTAL AGRI EQUIPMENT
11.3 CLIMATE CHANGE ADVERSELY IMPACTS AGRICULTURAL ACTIVITIES
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 FIVE FORCES ANALYSIS
12.3.1 THREAT OF NEW ENTRANTS
12.3.2 BARGAINING POWER OF SUPPLIERS
12.3.3 BARGAINING POWER OF BUYERS
12.3.4 THREAT OF SUBSTITUTES
12.3.5 COMPETITIVE RIVALRY
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 TRACTORS
13.3.1 MARKET OVERVIEW
13.3.2 MARKET SIZE & FORECAST
13.3.3 HORSEPOWER: MARKET SIZE AND FORECAST
13.3.4 WHEEL-DRIVE: MARKET SIZE AND FORECAST
13.4 PLANTING EQUIPMENT
13.4.1 MARKET SNAPSHOT & GROWTH ENGINE
13.4.2 MARKET OVERVIEW
13.4.3 MARKET SIZE & FORECAST
13.4.4 SEEDER: MARKET SIZE & FORECAST
13.4.5 PLANTER: MARKET SIZE & FORECAST
13.4.6 TRANSPLANTER: MARKET SIZE & FORECAST
13.5 TILLAGE EQUIPMENT
13.5.1 MARKET SNAPSHOT & GROWTH ENGINE
13.5.2 MARKET OVERVIEW
13.5.3 MARKET SIZE & FORECAST
13.5.4 PLOUGH: MARKET SIZE & FORECAST
13.5.5 HARROW: MARKET SIZE & FORECAST
13.5.6 TILLER: MARKET SIZE & FORECAST
13.6 HARVESTING EQUIPMENT
13.6.1 MARKET SNAPSHOT & GROWTH ENGINE
13.6.2 MARKET OVERVIEW
13.6.3 MARKET SIZE & FORECAST
13.6.4 TRACTOR-MOUNTED HARVESTER: MARKET SIZE & FORECAST
13.6.5 TRAILED FORAGE HARVESTER: MARKET SIZE & FORECAST
13.6.6 SELF-PROPELLED COMBINE HARVESTER: MARKET SIZE & FORECAST
13.7 MOWING EQUIPMENT
13.7.1 MARKET SNAPSHOT & GROWTH ENGINE
13.7.2 MARKET OVERVIEW
13.7.3 MARKET SIZE & FORECAST
13.7.4 MOWER: MARKET SIZE & FORECAST
13.7.5 WINDROWER: MARKET SIZE & FORECAST
13.8 SPRAYER
13.8.1 MARKET OVERVIEW
13.8.2 MARKET SIZE & FORECAST
13.9 OTHER EQUIPMENT
13.9.1 MARKET SNAPSHOT & GROWTH ENGINE
13.9.2 MARKET OVERVIEW
13.9.3 MARKET SIZE & FORECAST
13.9.4 LOADER: MARKET SIZE & FORECAST
13.9.5 BALER: MARKET SIZE & FORECAST
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 LAND DEVELOPMENT AND SEEDBED PREPARATION
14.3.1 MARKET OVERVIEW
14.3.2 MARKET SIZE & FORECAST
14.4 SOWING AND PLANTING
14.4.1 MARKET OVERVIEW
14.4.2 MARKET SIZE & FORECAST
14.5 PLANT PROTECTION
14.5.1 MARKET OVERVIEW
14.5.2 MARKET SIZE & FORECAST
14.6 HARVESTING AND THRESHING
14.6.1 MARKET OVERVIEW
14.6.2 MARKET SIZE & FORECAST
14.7 POST HARVESTING
14.7.1 MARKET OVERVIEW
14.7.2 MARKET SIZE & FORECAST
15.1 COMPETITION OVERVIEW
15.1.1 RECENT DEVELOPMENTS BY TOP BRANDS
15.1.2 BRAND LOYALTY
15.1.3 SALES & EXPORTS
16.1 JOHN DEERE
16.1.1 BUSINESS OVERVIEW
16.1.2 PRODUCT OFFERINGS
16.1.3 KEY STRATEGIES
16.1.4 KEY STRENGTHS
16.1.5 KEY OPPORTUNITIES
16.2 CNH INDUSTRIAL
16.3 AGCO
16.4 KUBOTA
17.1 SDF
17.1.1 BUSINESS OVERVIEW
17.1.2 PRODUCT OFFERINGS
17.2 JCB
17.3 CLAAS
17.4 MAHINDRA
17.5 FOTON
17.6 KIOTI
17.7 SONALIKA
17.8 YANMAR
18.1 KEY TAKEAWAYS
18.2 STRATEGIC RECOMMENDATIONS
19.1 MARKET BY EQUIPMENT TYPE
19.2 MARKET BY APPLICATION TYPE
20.1 ABBREVIATIONS
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